MercadoLibre (NASDAQ:MELI) Trading Down 0.1% – What’s Next?

Shares of MercadoLibre, Inc. (NASDAQ:MELI) dropped 0.1% on Monday . The company traded as low as $2,044.62 and last traded at $2,045.28. Approximately 63,871 shares traded hands during trading, a decline of 81% from the average daily volume of 344,572 shares. The stock had previously closed at $2,047.35.

Analysts Set New Price Targets

A number of equities analysts have commented on MELI shares. JPMorgan Chase & Co. downgraded shares of MercadoLibre from an “overweight” rating to a “neutral” rating and set a $2,400.00 target price for the company. in a report on Wednesday, October 2nd. BTIG Research increased their target price on shares of MercadoLibre from $2,025.00 to $2,250.00 and gave the company a “buy” rating in a research report on Wednesday, August 21st. Cantor Fitzgerald restated an “overweight” rating and issued a $2,530.00 target price on shares of MercadoLibre in a research note on Monday, October 7th. Morgan Stanley upped their price target on MercadoLibre from $2,175.00 to $2,500.00 and gave the stock an “overweight” rating in a research report on Friday, September 20th. Finally, The Goldman Sachs Group raised their price objective on MercadoLibre from $2,180.00 to $2,480.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Three investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $2,301.67.

MercadoLibre Trading Down 1.4 %

The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.26 and a current ratio of 1.28. The company has a market cap of $102.74 billion, a price-to-earnings ratio of 90.67, a P/E/G ratio of 1.26 and a beta of 1.61. The company’s fifty day moving average is $2,048.06 and its two-hundred day moving average is $1,793.83.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings data on Thursday, August 1st. The company reported $10.48 earnings per share for the quarter, topping analysts’ consensus estimates of $8.53 by $1.95. MercadoLibre had a net margin of 8.03% and a return on equity of 43.52%. The firm had revenue of $5.07 billion for the quarter, compared to analyst estimates of $4.64 billion. During the same quarter in the prior year, the business earned $5.16 earnings per share. The business’s quarterly revenue was up 41.5% compared to the same quarter last year. On average, research analysts anticipate that MercadoLibre, Inc. will post 37.55 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of MELI. Migdal Insurance & Financial Holdings Ltd. grew its stake in shares of MercadoLibre by 1,600.0% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company’s stock worth $28,000 after purchasing an additional 16 shares during the period. Optimum Investment Advisors boosted its holdings in MercadoLibre by 750.0% during the third quarter. Optimum Investment Advisors now owns 17 shares of the company’s stock worth $35,000 after buying an additional 15 shares in the last quarter. Financial Connections Group Inc. purchased a new stake in MercadoLibre during the second quarter worth $36,000. Quarry LP purchased a new position in MercadoLibre in the second quarter valued at $43,000. Finally, NBC Securities Inc. increased its holdings in MercadoLibre by 35.0% in the third quarter. NBC Securities Inc. now owns 27 shares of the company’s stock valued at $55,000 after buying an additional 7 shares in the last quarter. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

MercadoLibre Company Profile

MercadoLibre, Inc operates online commerce platforms in the United States. It operates Mercado Libre Marketplace, an automated online commerce platform that enables businesses, merchants, and individuals to list merchandise and conduct sales and purchases digitally; and Mercado Pago FinTech platform, a financial technology solution platform, which facilitates transactions on and off its marketplaces by providing a mechanism that allows its users to send and receive payments online, as well as allows users to transfer money through their websites or on the apps.